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Stock impact report

China c.bank set to leave policy rate unchanged, drain some liquidity [Reuters]

ING Group, N.V. (ING) 
US:NYSE Investor Relations: ing.com/investor-relations.htm
Company Research Source: Reuters
Reuters survey showed, while a vast majority of respondents also expect some liquidity to be drained via the bond instrument. Market watchers widely believe Beijing will continue to prioritise the stability of the yuan, at a time the Chinese currency is facing renewed depreciation pressure. It weakened to a five-month low this week, dragged down by a resurgent U.S. dollar. In a Reuters poll of 31 market watchers conducted this week, all respondents expected the People's Bank of China (PBOC) to leave the interest rate on one-year medium-term lending facility (MLF) loans unchanged at 2.50% when rolling over 170 billion yuan ($23.49 billion) worth of such loans. Among them, 24, or 77% of all participants expected the central bank to partially roll over the maturing loan. Another four respondents forecast a full rollover, while the remaining three predicted the PBOC to inject fresh funds exceeding the maturity. The strong consensus on steady MLF rate comes amid rising yuan depreci Show less Read more
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